Comerica (NYSE:CMA) Raised to Hold at StockNews.com

Comerica (NYSE:CMA) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities analysts also recently issued research reports about the company. Evercore ISI increased their price target on Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday. Royal Bank of Canada decreased their target price on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Robert W. Baird cut their price target on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Stephens reaffirmed an “overweight” rating and set a $58.00 price objective on shares of Comerica in a report on Tuesday, September 10th. Finally, DA Davidson reiterated a “neutral” rating and issued a $55.00 target price on shares of Comerica in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.81.

Comerica Stock Performance

CMA opened at $58.86 on Thursday. The firm has a fifty day moving average price of $56.20 and a 200 day moving average price of $53.14. Comerica has a 1 year low of $37.40 and a 1 year high of $61.84. The stock has a market cap of $7.80 billion, a P/E ratio of 11.66 and a beta of 1.23. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. During the same quarter in the prior year, the firm posted $2.01 earnings per share. Equities research analysts anticipate that Comerica will post 5.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now owns 27,910 shares in the company, valued at $1,605,104.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Several institutional investors have recently made changes to their positions in CMA. Family Firm Inc. purchased a new stake in Comerica in the second quarter valued at $37,000. UMB Bank n.a. raised its holdings in Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after buying an additional 208 shares during the period. Versant Capital Management Inc lifted its position in Comerica by 2,723.3% in the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after buying an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after buying an additional 300 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in shares of Comerica during the second quarter valued at about $56,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.